biote (NASDAQ:BTMD) Chairman Buys $177,403.50 in Stock

biote Corp. (NASDAQ:BTMD) Chairman Marc Beer purchased 115,950 shares of biote stock in a transaction dated Monday, August 10th. The stock was bought at an average price of $1.53 per share, with a total value of $177,403.50. Following the completion of the purchase, the chairman directly owned 223,744 shares of the company’s stock, valued at approximately $342,328.32. This trade represents a 107.57% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

biote Stock Down 1.3%

Shares of biote stock opened at $1.47 on Friday. biote Corp. has a twelve month low of $1.27 and a twelve month high of $3.62. The company’s 50 day moving average is $2.13 and its 200 day moving average is $2.01. The company has a market cap of $52.82 million, a price-to-earnings ratio of 13.36 and a beta of 1.64.

biote (NASDAQ:BTMD) last announced its earnings results on Wednesday, August 5th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.26). biote had a net margin of 3.19% and a negative return on equity of 22.33%. The company had revenue of $44.23 million for the quarter, compared to analysts’ expectations of $46.12 million. Sell-side analysts expect that biote Corp. will post 0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On biote

Institutional investors and hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd bought a new stake in biote during the second quarter valued at about $68,000. Occudo Quantitative Strategies LP bought a new position in shares of biote in the third quarter worth about $61,000. Franklin Resources Inc. bought a new position in shares of biote in the third quarter worth about $58,000. Russell Investments Group Ltd. lifted its position in shares of biote by 209.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 18,663 shares of the company’s stock valued at $56,000 after buying an additional 12,637 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of biote during the 3rd quarter valued at about $49,000. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BTMD. Weiss Ratings downgraded biote from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday. B. Riley Financial lowered their price objective on shares of biote from $2.00 to $1.50 and set a “neutral” rating on the stock in a research note on Monday. TD Cowen dropped their price objective on shares of biote from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Finally, Truist Financial upgraded shares of biote to a “strong-buy” rating in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, biote presently has an average rating of “Moderate Buy” and an average price target of $2.50.

biote Company Profile

biote Corp. operates in practice-building business within the hormone optimization space. It trains physicians and nurse practitioners in hormone optimization using bioidentical hormone replacement pellet therapy in men and women experiencing hormonal imbalance. The company offers Biote Method, a comprehensive end-to-end practice building platform that provides Biote-certified practitioners with the components developed for practitioners in the hormone optimization space comprising Biote Method education, training, and certification services; practice management software that allows Biote-certified practitioners to order, track, and manage hormone optimization product inventory and other administrative requirements; inventory management software to monitor pellet inventory; and information regarding available hormone replacement therapy products, as well as digital and point-of-care marketing support.